The 19808 zip code in Wilmington tops our ranking of the most affordable places to live in Delaware.
We looked at 33 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in Delaware
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Wilmington 🥇 | 100.0 | $368,060 | $1,670 |
| 2 | New Castle 🥈 | 95.6 | $280,696 | $1,706 |
| 3 | Laurel 🥉 | 87.3 | $305,125 | $1,965 |
| 4 | Claymont | 86.6 | $320,258 | $1,613 |
| 5 | Bear | 85.9 | $420,849 | $2,303 |
| 6 | Seaford | 85.9 | $306,865 | $1,965 |
| 7 | Newark | 84.2 | $354,732 | $2,069 |
| 8 | Hockessin | 81.2 | $595,831 | $1,965 |
| 9 | Georgetown | 79.6 | $367,444 | $1,965 |
| 10 | Magnolia | 78.8 | $418,267 | $1,965 |
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1. Wilmington
Here's why the 19808 zip code in Wilmington is Delaware's most affordable place to live.
🔎 Key data about Wilmington
| Data point | Value | Rank (out of 33 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $368,060[1] | No. 18 | -$14,626.56 |
| Home affordability ratio | 3.9 | No. 12 | -0.4 |
| Home value five-year change | 28.2%[2] | No. 12 | -1.2% |
| Home value one-year forecast | 0.8%[3] | No. 13 | 0.2% |
| Rental costs | $1,670[4] | No. 4 | -$295 |
| Rent affordability ratio | 1.77% | No. 1 | -0.5% |
| Median household income | $94,234[5] | No. 11 | $6,357 |
| Property taxes | $2,311[6] | No. 25 | $312 |
| Energy costs | $0.12 kWh[7] | No. 1 | -$0.01 |
Wilmington's 19808 zip code is the cheapest place to live in Delaware, leading the 33 markets we evaluated.
The median home value is $368,060, making it the 18th-cheapest housing market in the state. Forecasts project a 0.8% change in home values in the next year. Rent in the zip code averages $1,670 per month, which is the 1st cheapest amount in Delaware.
The median property tax for homeowners in Wilmington is $2,311 per household, the No. 25 ranked market in Delaware.
Residents pay $0.12 per kWh of electricity, which ranks No. 1 among Delaware markets.
2. New Castle
The 19720 zip code is the 2nd-cheapest place to live in Delaware.
🔎 Key data about New Castle
| Data point | Value | Rank (out of 33 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.6 | No. 2 | N/A |
| Median home value | $280,696[8] | No. 5 | -$101,990.56 |
| Home affordability ratio | 3.7 | No. 5 | -0.6 |
| Home value five-year change | 26.8%[9] | No. 9 | -2.6% |
| Home value one-year forecast | 0.8%[10] | No. 13 | 0.2% |
| Rental costs | $1,706[11] | No. 8 | -$258 |
| Rent affordability ratio | 2.26% | No. 24 | 0.0% |
| Median household income | $75,403[12] | No. 22 | -$12,474 |
| Property taxes | $1,525[13] | No. 16 | -$474 |
| Energy costs | $0.12 kWh[14] | No. 1 | -$0.01 |
New Castle's 19720 zip code has a median home value of $280,696, which is the 13th-cheapest housing market in Delaware. You can rent for an average of $1,706 per month. That's the 8th-cheapest price in the state.
The average household income in the zip code is $75,403, which ranks 22nd-highest in the state.
Homeowners in New Castle pay a median property tax of $1,525 per year, making it the 16th-most affordable market in Delaware.
New Castle ranks No. 1 among Delaware energy markets. You'll pay $0.12 per kWh of electricity.
3. Laurel
The 3rd-cheapest place to live in Delaware is Laurel's 19956 zip code.
🔎 Key data about Laurel
| Data point | Value | Rank (out of 33 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 87.3 | No. 3 | N/A |
| Median home value | $305,125[15] | No. 6 | -$77,561.39 |
| Home affordability ratio | 4.7 | No. 21 | 0.3 |
| Home value five-year change | 23.0%[16] | No. 4 | -6.4% |
| Home value one-year forecast | -0.4%[17] | No. 1 | -1.0% |
| Rental costs | $1,965[18] | No. 12 | $0 |
| Rent affordability ratio | 2.24% | No. 8 | 0.0% |
| Median household income | $65,603[19] | No. 28 | -$22,274 |
| Property taxes | $975[20] | No. 3 | -$1,024 |
| Energy costs | $0.13 kWh[21] | No. 14 | $0.00 |
The No. 6 cheapest housing market in Delaware is Laurel's 19956 zip code, with a median home value of $305,125. Rents in the market average $1,965 per month, making it the 12th-most affordable rental market in the state.
The median property tax for households in Laurel is $975, which makes it the 3rd-cheapest place in Delaware. Laurel ranks No. 14 among Delaware markets by energy costs. Residents pay $0.13 per kWh of electricity.
4. Claymont
The 19703 zip code in Claymont comes in at No. 4 on our list of the cheapest places to live in Delaware.
🔎 Key data about Claymont
| Data point | Value | Rank (out of 33 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 86.6 | No. 4 | N/A |
| Median home value | $320,258[22] | No. 10 | -$62,428.37 |
| Home affordability ratio | 4.2 | No. 17 | -0.2 |
| Home value five-year change | 32.3%[23] | No. 19 | 2.9% |
| Home value one-year forecast | 0.8%[24] | No. 13 | 0.2% |
| Rental costs | $1,613[25] | No. 1 | -$352 |
| Rent affordability ratio | 2.10% | No. 7 | -0.1% |
| Median household income | $76,939[26] | No. 18 | -$10,938 |
| Property taxes | $1,768[27] | No. 22 | -$231 |
| Energy costs | $0.12 kWh[28] | No. 1 | -$0.01 |
The No. 10 cheapest housing market in Delaware is Claymont's 19703 zip code, where the median home value is $320,258. Renters here pay an average of $1,613 per month.
When it comes to energy costs, Claymont ranks 1st among Delaware markets. Residents pay $0.12 per kWh of electricity.
The median property tax for households in the zip code is $1,768, which makes it the 22nd-cheapest market in Delaware.
5. Bear
The 19701 zip code in Bear ranks No. 5 among Delaware's most affordable places to live.
🔎 Key data about Bear
| Data point | Value | Rank (out of 33 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 85.9 | No. 5 | N/A |
| Median home value | $420,849[29] | No. 24 | $38,162.19 |
| Home affordability ratio | 3.8 | No. 8 | -0.6 |
| Home value five-year change | 30.0%[30] | No. 15 | 0.6% |
| Home value one-year forecast | 0.8%[31] | No. 13 | 0.2% |
| Rental costs | $2,303[32] | No. 32 | $338 |
| Rent affordability ratio | 2.07% | No. 6 | -0.2% |
| Median household income | $111,198[33] | No. 6 | $23,321 |
| Property taxes | $2,606[34] | No. 26 | $607 |
| Energy costs | $0.12 kWh[35] | No. 1 | -$0.01 |
Bear's 19701 zip code has a median home value of $420,849, the 24th-cheapest market in the state. Forecasts project a 0.8% change in home values in the next year.
The median property tax per household in Bear is $2,606. It's the 26th-cheapest market by tax rate in Delaware.
6. Seaford
The No. 6 most affordable place to live in Delaware is the 19973 zip code.
🔎 Key data about Seaford
| Data point | Value | Rank (out of 33 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 85.9 | No. 6 | N/A |
| Median home value | $306,865[36] | No. 7 | -$75,821.93 |
| Home affordability ratio | 4.8 | No. 22 | 0.4 |
| Home value five-year change | 22.8%[37] | No. 3 | -6.6% |
| Home value one-year forecast | -0.4%[38] | No. 1 | -1.0% |
| Rental costs | $1,965[39] | No. 12 | $0 |
| Rent affordability ratio | 2.24% | No. 8 | 0.0% |
| Median household income | $64,387[40] | No. 29 | -$23,490 |
| Property taxes | $998[41] | No. 4 | -$1,001 |
| Energy costs | $0.13 kWh[42] | No. 14 | $0.00 |
The back half of our top 10 kicks off with Seaford's 19973 zip code, which has the 7th-cheapest home values in Delaware. The median home value is $306,865. Rents average $1,965 per month, making it the 12th-most affordable rental market in the state.
Residents pay $0.13 per kWh of electricity. It's the 14th-cheapest energy market.
7. Newark
Newark's 19702 zip code is the 7th-cheapest place to live in Delaware.
🔎 Key data about Newark
| Data point | Value | Rank (out of 33 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 84.2 | No. 7 | N/A |
| Median home value | $354,732[43] | No. 15 | -$27,954.52 |
| Home affordability ratio | 3.8 | No. 10 | -0.5 |
| Home value five-year change | 29.3%[44] | No. 13 | -0.1% |
| Home value one-year forecast | 0.8%[45] | No. 13 | 0.2% |
| Rental costs | $2,069[46] | No. 27 | $104 |
| Rent affordability ratio | 2.24% | No. 23 | 0.0% |
| Median household income | $92,446[47] | No. 12 | $4,569 |
| Property taxes | $2,763[48] | No. 27 | $764 |
| Energy costs | $0.12 kWh[49] | No. 1 | -$0.01 |
You'll find the 15th-cheapest home values in Delaware in Newark's 19702 zip code. The median value: $354,732. Renters in Newark pay an average of $2,069 per month.
Homeowners in Newark pay a median property tax of $2,763 per year, which is Delaware's 27th-most affordable market.
The average household income is $92,446, which ranks 12th-highest in the state.
8. Hockessin
The 8th-cheapest place to live in Delaware is Hockessin's 19707 zip code.
🔎 Key data about Hockessin
| Data point | Value | Rank (out of 33 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 81.2 | No. 8 | N/A |
| Median home value | $595,831[50] | No. 32 | $213,144.04 |
| Home affordability ratio | 3.5 | No. 2 | -0.9 |
| Home value five-year change | 33.4%[51] | No. 23 | 4.0% |
| Home value one-year forecast | 0.8%[52] | No. 13 | 0.2% |
| Rental costs | $1,965[53] | No. 12 | $0 |
| Rent affordability ratio | 2.24% | No. 8 | 0.0% |
| Median household income | $172,696[54] | No. 1 | $84,819 |
| Property taxes | $4,209[55] | No. 33 | $2,210 |
| Energy costs | $0.12 kWh[56] | No. 1 | -$0.01 |
The 32nd-cheapest housing market in Delaware is Hockessin's 19707 zip code, with a median home value of $595,831. Renters pay an average of $1,965 per month, the No. 12 rental market in the state.
The median property tax for households in Hockessin is $4,209, which makes it the 33rd-cheapest place in Delaware. The average household income of $172,696 ranks 1st.
9. Georgetown
Georgetown's 19947 zip code sneaks into the top ten of Delaware's most affordable places to live.
🔎 Key data about Georgetown
| Data point | Value | Rank (out of 33 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 79.6 | No. 9 | N/A |
| Median home value | $367,444[57] | No. 17 | -$15,242.95 |
| Home affordability ratio | 5.2 | No. 28 | 0.8 |
| Home value five-year change | 23.8%[58] | No. 7 | -5.6% |
| Home value one-year forecast | -0.4%[59] | No. 1 | -1.0% |
| Rental costs | $1,965[60] | No. 12 | $0 |
| Rent affordability ratio | 2.24% | No. 8 | 0.0% |
| Median household income | $71,229[61] | No. 24 | -$16,648 |
| Property taxes | $971[62] | No. 2 | -$1,028 |
| Energy costs | $0.13 kWh[63] | No. 14 | $0.00 |
The 17th-cheapest housing market in Delaware is Georgetown's 19947 zip code, where the median home value is $367,444. Renters pay an average of $1,965 per month. It's the state's 12th-cheapest rental market.
The median property tax for households within the zip code is $971, which makes it the 2nd-cheapest property tax rate in Delaware.
10. Magnolia
The final spot on our list of the most affordable places to live in Delaware goes to the 19962 zip code in Magnolia.
🔎 Key data about Magnolia
| Data point | Value | Rank (out of 33 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 78.8 | No. 10 | N/A |
| Median home value | $418,267[64] | No. 23 | $35,580.72 |
| Home affordability ratio | 4.0 | No. 14 | -0.3 |
| Home value five-year change | 35.4%[65] | No. 27 | 6.0% |
| Home value one-year forecast | 0.7%[66] | No. 9 | 0.1% |
| Rental costs | $1,965[67] | No. 12 | $0 |
| Rent affordability ratio | 2.24% | No. 8 | 0.0% |
| Median household income | $104,260[68] | No. 7 | $16,383 |
| Property taxes | $1,675[69] | No. 19 | -$324 |
| Energy costs | $0.14 kWh[70] | No. 26 | $0.01 |
The 23rd-most affordable market in Delaware is Magnolia's 19962 zip code. The median home value is $418,267. Rent in the market costs $1,965 per month on average, making it the 12th-most affordable rental market in Delaware.
The median property tax for households in Magnolia is $1,675, which is the 19th-cheapest property tax rate in the state.
Magnolia ranks No. 26 among Delaware markets by energy costs, with households paying $0.14 per kWh of electricity.
How we ranked the most affordable places in Delaware
We evaluated 33 zip codes in Delaware with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Delaware, the higher our score on this component. We assign a weight of 13.0% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 28.0% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 10.0% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 8.0% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 7.0% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 5.0% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 17.0% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Delaware average, the higher our score on this component. We assign a weight of 8.0% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Delaware average, the higher our score on this component. We assign a weight of 4.0% to energy costs.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code. Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
